WASHINGTON -- Presidential candidates who accept public funding may spend $40,536million on their pre-nomination efforts while each party's nominee will be able to spend $67.56million during the 2000 general election, according to unofficial calculations released today by the Federal Election Commission.

Each of the two major parties will be able to spend up to $13,680,292 on behalf of their presidential nominees, and $13,512,000 on their conventions, according to these calculations.

There is an overall spending limit for the entire pre-convention period as well as limits for spending in each state. The limits apply only to those campaigns choosing to accept federal funds. Campaigns which forego federal funding may spend unlimited amounts of money.

The overall "base" spending limit for presidential primary campaigns is $10 million, plus a cost-of-living adjustment (over 1974). For the 2000 primary season, the "base" spending limit is $33,780,000. An exemption for 20% of a campaign's fundraising expenses effectively raises the amount primary contenders may spend in the pre-convention period to $40,536,000. In addition, Commission regulations permit campaigns an allowance for legal and accounting costs associated with compliance with the FECA. During the period that the campaign is active, the allowance is 15% of the "base" spending limit or $5,067,000. Once the campaign is over and is winding down, all salary and overhead expenses may be considered exempt compliance in addition to the 15% of the "base" spending limit allowed during the campaign.

State spending limits are keyed to the voting age population of each state, with a minimum of at least $200,000 plus a cost-of-living adjustment for those states with a low VAP. The formula for setting state limits is 16¢ x VAP + cost-of-living. A less populated state, such as New Hampshire, would have a limit of $200,000, plus cost-of-living, or $675,600. A larger state, such as California, would have a limit of 16¢ x 24,222,000 (VAP), plus cost-of-living, or $13,091,507.

The two major party nominees will be given $67,560,000 each for the general election campaign. Candidates opting for general election funding have a spending limit of $20 million plus a cost-of-living adjustment, (over 1974). They receive all of their funds from the U.S. Treasury and may not raise private contributions for the campaign, other than for certain legal and accounting costs, which are not subject to the spending limit.

Note to editors/correspondents: The spending limits are, at this time, unofficial until the Labor Department and the Bureau of Census certify the cost-of-living adjustment (COLA) and voting age population (VAP) figures. However, the FEC does not expect the computations to change and committees are being so notified.